The recent economic crisis has brought about buying opportunities that are advantageous to those who are in a position to capitalize.  One of these areas is buying a new or used vehicle.  Because car sales are down all over dealers lots are full of new and used vehicles that are sitting and waiting for buyers. Car manufacturers have added incentives for people to buy now, but frankly they are not having much effect.  So it is of no surprise that if you walk into a dealership you are in command – the dealer wants and needs your money.

The question of whether to buy a new or used vehicle has gone on and on for as long as cars have been around.  Purchasing a new vehicle generally affords a certain amount of peace of mind and trouble-free driving.  Obviously you pay a higher price for a new vehicle and you’ll pay a higher price in the amount of interest that you will pay over the term of your loan.  But at the same time there are many incentives that are being offered on new vehicles right now which makes them more affordable than ever.

Used vehicles are also available in higher numbers than ever before.  The opportunity to find a good quality clean used car is definitely in your favor.  The things to watch out here for are excessive mileage and wear on a used vehicle.  Look for the cream of the crop, top of the list, most well-cared for vehicle on the dealer’s lot.  Not only are they willing to deal on new vehicles but also on used as well.  If you choose to buy from an owner be sure to have a mechanic look over the vehicle before you make a purchase agreement.  And, get your purchase agreement in writing and signed by both the buyer and seller.  Even if it means that you sit down together and write it out by hand.

While the recent financial crisis has put an enormous amount of strain on the credit market you can obtain a loan.  Be sure to ask the dealer for the best options that they have for you.  Or better yet take some time and search on the Internet for good financing deals for used or new vehicles.  You might try visiting some of your local banks as well.  The best advice is to move slowly and check around to make sure you get the best deal possible on financing for your vehicle.